History
On 8 February 2006 Borland announced that it would seek a buyer for its IDE division and database products. During the spin-off negotiations, these divisions ("developer tools group") internally reorganized into a division called CodeGear. Eventually, five parties bid for the group. However, no bidder offered Borland "numbers that appropriately reflected the value we think is in the business," according to a conference call with Borland CEO Tod Nielsen.
Borland's 2006 annual report showed that its CodeGear IDE business had sales of US$75.7 million in 2006, which accounted for 25 percent of Borland's total revenue.
On 7 May 2008, Borland and Embarcadero Technologies announced that Embarcadero had "signed a definitive asset purchase agreement to purchase CodeGear." The acquisition, for approximately $24.5 million, closed on 30 June 2008.
Read more about this topic: Codegear
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